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After losing money in stock market, bank employee in Ghaziabad withdraws Rs 64 lakh from customers’ accounts; arrested

Police said the accused used forged methods, including RTGS (Real-Time Gross Settlement) transfers and loose cheques, to siphon off a total amount of Rs.64,87,442.

2 min readGhaziabadUpdated: Dec 16, 2025 08:19 AM IST

Strong returns in recent years have attracted DIIs, largely comprising mutual funds, insurance and pension funds, toward the stock markets, experts said.

During questioning, Tiwari told police that he had suffered heavy losses while trading in the stock market.

An employee of Punjab and Sind Bank’s Patla branch in Ghaziabad was arrested for allegedly embezzling more than Rs 64 lakh from customer accounts using fraudulent transactions, police said on Saturday.

Somil Tiwari (29), who worked as a customer service associate at the bank, was arrested on December 13 following a tip-off from an informer, said police. He was apprehended after a case was registered at the Nivadi police station on November 21 following a complaint by the Branch Manager. Tiwari had allegedly illegally withdrawn money from multiple bank accounts without the consent of the account holders.

During questioning, Tiwari told police that he had suffered heavy losses while trading in the stock market. “In an attempt to recover those financial losses, he allegedly opened a fake bank account in the name of an acquaintance and transferred customers’ money into that account. He then withdrew the funds and reinvested them in stock market trading, where he again incurred losses,” an officer said.

Police said the accused used forged methods, including RTGS (Real-Time Gross Settlement) transfers and loose cheques, to siphon off a total amount of Rs.64,87,442.

Based on the complaint, an FIR was registered under relevant sections of the Bharatiya Nyaya Sanhita (Sections 316(5) and 61(2)), and a police team was constituted to apprehend the accused.

Officers said that further legal proceedings are underway. “As of now, one case has been registered against the accused at Nivadi police station, and inquiry is being conducted to ascertain whether he has any previous criminal record,” an officer said.

Neetika Jha

Neetika Jha is a Correspondent with The Indian Express, based in the Noida bureau. She primarily covers crime, health, and environmental issues, as well as human-interest features across Noida, Ghaziabad, and Western Uttar Pradesh. Professional Profile Education: She is an alumna of the Asian College of Journalism (ACJ), Chennai. Core Beat: Her work focuses on the administrative and social challenges of the NCR's satellite cities. She is known for her detailed reporting on civic infrastructure (like the Noida International Airport), environmental violations, and high-profile criminal investigations. Personal Interests: Outside of reporting, she is an avid reader of fiction (citing The Thursday Murder Club and Yellowface as recent favorites) and a gardening enthusiast. Recent Notable Articles (Late 2025) Neetika’s recent reportage has been dominated by winter-related crises in the NCR and significant criminal legalities: 1. Environment & Public Safety "Greater Noida Authority slaps fines on firms for violating GRAP IV norms" (Dec 21, 2025): Reporting on heavy penalties imposed on major developers like NBCC for flouting anti-pollution construction bans. "Fatal pile-up on Yamuna Expressway: Fog, high speed emerge as key safety risks" (Dec 17, 2025): A major report on a 15-vehicle collision caused by dense fog that killed 17 people. "At Chilla, Kalindi, DND, many fined Rs 20,000 for non-compliance to Delhi's BS-VI rule" (Dec 19, 2025): On-the-ground reporting from the borders where Noida police penalize non-compliant vehicles entering the capital. "Driving in Noida amid fog? New speed limits in effect till Feb 15" (Dec 13, 2025): Detailing the seasonal traffic restrictions aimed at preventing highway accidents. 2. Crime & Legal Developments "'Have you ever heard of a murder case being withdrawn?': Court in Akhlaq lynching case" (Dec 12, 2025): Covering a critical courtroom hearing where the court questioned the UP government's petition to withdraw charges against the accused. "After losing money in stock market, bank employee in Ghaziabad withdraws Rs 64 lakh from customers' accounts" (Dec 14, 2025): An investigative piece on internal bank fraud and the risks of modern digital embezzlement. "Woman shot dead by partner in Noida: Three days on, accused still on the run" (Dec 2, 2025): Tracking a high-profile domestic violence and murder case in Central Noida. 3. Human Interest & Features "'Had tears in my eyes': Army men walk bride down the aisle 20 years after father died in terror attack" (Dec 2, 2025): A moving story about soldiers from a Punjab Grenadiers unit fulfilling a father's duty for his daughter. "How a Zepto delivery man heard a cry — and saved two kids dumped in Noida drain" (Dec 2025): A viral human-interest story highlighting individual heroism in the city. Signature Style Neetika is recognized for her meticulous follow-up on local tragedies. Whether it is a massive pile-up on the Yamuna Expressway or the ongoing construction of the Jewar (Noida) Airport, she focuses on systemic lapses and the safety of commuters. Her crime reporting often explores the psychological motives behind "crimes of passion" and the rising trend of financial cyber-fraud in the Ghaziabad-Noida belt. ... Read More

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